@TechReport{iza:izadps:dp13033,
            	author={Fackler, Daniel and Hölscher, Lisa and Schnabel, Claus and Weyh, Antje},
            	title={Does Working at a Start-Up Pay Off?},
            	year={2020},
	month={Mar},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={13033},
            	url={https://www.iza.org/publications/dp13033},
	abstract={Using representative linked employer-employee data for Germany, this paper analyzes short- and long-run differences in labor market performance of workers joining startups instead of incumbent firms. Applying entropy balancing and following individuals over ten years, we find huge and long-lasting drawbacks from entering a start-up in terms of wages, yearly income, and (un)employment. These disadvantages hold for all groups of workers and types of start-ups analyzed. Although our analysis of different subsequent career paths highlights important heterogeneities, it does not reveal any strategy through which workers joining start-ups can catch up with the income of similar workers entering incumbent firms.},
	keywords={wages;young firms;startups;linked employer-employee data},
            }